πŸ“‹Morning Board 2026-08-17

Pre-open snapshot: prior close, VIX percentile, RSI(2), dealer gamma, expected range.

SymbolPrev closeChangeVIX / VXN (pct)GEX ($B/1%)Expected range
QQQ$731.07-0.14%20.7 (29th pctile)+3.97B flip 724.51.06% (0.65–1.79)
SPY$776.34-0.20%14.3 (2nd pctile)+0.34B flip 777.30.67% (0.39–1.17)
QQQ RSI(2)79 stretched
QQQ vs 200-day+12.4%
QQQ GammaDealers long gamma (+$3.97B per 1% move), flip 724.5 sits 1.4% below spot
How to read this Β· VIX

Οƒ Volatility Indices (VIX / VXN)

VIX = S&P 500 30-day implied volatility (maps to SPY); VXN = the same measure for the Nasdaq 100 (maps to QQQ). Percentile = share of the past year (252 trading days) that closed below the current value.
Index Current Percentile 1-year range As of
VIX Β· SPY 14.25 2% pctile Β· Depressed (complacency)
13.5 ─ median 17.2 ─ 31.1
2026-08-14
VXN Β· QQQ 20.72 29% pctile Β· Near median
17.1 ─ median 23.3 ─ 33.5
2026-08-14
CBOE official daily closes (VIX from 1990, VXN from 2009). These are closing values, not intraday β€” the morning brief uses the prior session's close and the evening review the current close, so the series stays consistent with history with no point-in-time bias.

Full report: Morning report Β· Evening report

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Research output, not investment advice.